Foley Hoag Client Vineyard Wind Selected in Commonwealth's First Solicitation for Long Term Contracts for Offshore Wind
Vineyard Wind bid selected to develop 800-megawatt offshore wind farm
May 30, 2018
Foley Hoag LLP client Vineyard Wind LLC has been selected to negotiate a power purchase agreement with the Commonwealth of Massachusetts’ electric distribution companies in the first solicitation for long-term contracts for offshore wind generation and transmission. Vineyard’s selection puts the company on track to build Massachusetts’ first utility-scale, offshore wind energy project. The New Bedford, MA-based company was chosen over two other bidders to construct an offshore wind farm located 14 miles south of Martha’s Vineyard that will generate 800 megawatts (MW) of energy, enough to power 400,000 homes.
“We are proud to represent Vineyard Wind as it works to develop Massachusetts’ first offshore wind farm and kickstart a new industry in the Commonwealth,” said Adam Wade, a member of the firm’s Energy and Cleantech practice. “I think we are only beginning to appreciate the value of Massachusetts’ offshore wind resource. This is going to be a great project. The Vineyard Wind team has deep experience in offshore wind and renewable project development, both locally and globally. That experience is clearly a difference maker; but I think the team’s unique focus on delivering tangible, local and state-wide benefits to electricity consumers and stakeholders alike brought home this big win.”
Vineyard Wind has leased a 160,000-acre area of seabed in federal waters south of Martha's Vineyard to develop an offshore wind farm that will consist of an array of wind turbines, spaced at least eight-tenths of a mile apart, each capable of generating more than eight megawatts of power. The power from the turbines will be collected by an offshore substation. The project will be an effective source of energy that is also socially and environmentally responsible.
“We are excited to help launch this industry in the United States,” said Lars Thaaning Pedersen, CEO of Vineyard Wind. “Offshore wind is both clean and cost effective, with our project offering $3.7 billion in energy related cost savings over its life while eliminating 1.68 million metric tons of carbon dioxide emissions annually, or the equivalent of taking 325,000 cars off the road. In addition, the project will provide 3,600 local full time equivalent jobs over the life of the project, starting with in-state construction in 2019.”
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